Aldar Expands Logistics Portfolio With Acquisition Of ALMARKAZ Assets From Waha Capital For AED 530 Million

Aldar has purchased premium warehousing and light industrial properties in Abu Dhabi's Al Dhafra region from Waha for AED530 million. These assets, situated in the ALMARKAZ Industrial Park, add 182,500 sqm of net leasable area to Aldar Investment's logistics portfolio. The park, spanning 6 million sqm, was developed by Waha Land, a subsidiary of Waha Capital, and holds special economic zone status.

The acquisition aligns with Aldar's strategy to expand its logistics sector presence within the UAE. Jassem Salah Busaibe, CEO of Aldar Investment, stated, "The acquisition of assets at ALMARKAZ from Waha is another step in Aldar’s ongoing expansion within the UAE’s logistics sector, aligning with our strategy to scale and diversify our recurring income streams." This move enhances Aldar's logistics platform across Abu Dhabi and Dubai.

The transaction offers potential for future collaboration between Aldar and Waha at ALMARKAZ. The site benefits from high-quality infrastructure and increasing demand for logistics space due to rising intra-regional trade, e-commerce growth, and population increase. The flexible building designs allow tenants to choose from various unit sizes and heights, providing excellent modularity.

ALMARKAZ is nearly fully occupied with a diverse tenant base that includes international, regional, and government-related entities. This acquisition complements Aldar's existing logistics assets like Abu Dhabi Business Hub and 7 Central in Dubai Investments Park. Upcoming projects include sites at National Industries Park in Jebel Ali and Dubai South.

This transaction marks a significant milestone for Waha after over a decade of investment into ALMARKAZ. Mohamed Hussain Al Nowais, Managing Director of Waha Capital, expressed pride in transforming ALMARKAZ into a key component of Abu Dhabi’s logistics landscape. He noted that their efforts have created a high-quality platform contributing to the Emirate’s economic diversification.

Waha Capital sees this deal as evidence of their platform's strength and scalability. Al Nowais added that they are committed to long-term value creation across their portfolio. He stated, "This transaction is a testament to the strength and scalability of the platform we have built." Collaboration with Aldar on this project aims to unlock value and deliver strong returns for shareholders.

Future Developments

Aldar continues to prioritise expanding its logistics segment within its investment properties portfolio. Their current holdings include the Abu Dhabi Business Hub and 7 Central logistics hub in Dubai acquired in 2024. Additionally, Aldar is developing multiple facilities in Dubai South and has partnered with DP World for a 146,000 sqm logistics park at National Industries Park (NIP) in Jebel Ali.

The acquisition reflects Aldar's commitment to scaling its logistics operations while diversifying income streams. By capitalising on demand for strategically located premium spaces, Aldar aims to strengthen its position within the UAE’s growing logistics sector.

With inputs from WAM